An unusually profitable summer at the Bernabeu

Real Madrid is having an unusual summer. Right now, the balance sheet of its summer transfers is in the black. Specifically ¤19.5m in the black, having not spent a single Euro on new signings yet.

Real Madrid, one of the most active clubs in the summer transfer market during recent years – if not the most active - is having a summer that its fans are far from used to. At this point in the transfer market, not a single player has signed for the first team and the only deal on the horizon is that of Luka Modric.

However, the club doesn't look like spending anywhere near as much as Tottenham is asking for, unless it manages to raise more money this summer than the amount already made from the sales of players Jose Mourinho deemed surplus to requirements at the club: Hamit Altintop joined Galatasaray for ¤3.5m, Fernando Gago and Sergio Canales both signed for Valencia for a total of ¤11m, whilst Real Madrid Castilla player, Dani Carvajal joined Bayer Leverkusen for ¤5m.

In total, the club has raised ¤19.5m for its coffers, but is still awaiting the sale of others, namely Kaká, whose sale could still make the club a tidy sum. This wouldn't include a saving of about ¤70m that Madrid would make from the player’s wages over the duration of the contract that ties him to the club until 2015.